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| Simplified diagram of Project 2013B's Consignment Service |
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| Consignment Service | |
| Consignment is a service provided by Project 2013B to facilitate the sale of a matched pair of 2013B star notes on behalf of the two co-owners of a matched pair. This is ideal for people who: 🔹do not trust the 'other guy' to hold up their end of the deal 🔹simply feel uneasy sending payment, or their banknote, to someone they don't know 🔹are uncomfortable with getting their banknotes graded and auctioned off 🔹simply want a "one-stop-shop"... to simply send their bill and wait for a payout. The fee for this service for both the seller and the buyer is 3% (each) of the the hammer price at auction. The hammer price is the price the auction closes at and is before the auction house adds any premium to the bidder (buyer). | |
| Please note that this could be a slow process as things like registered mail is notoriously slow and, there have been times when grading services have been backlogged over 90 days. Even payment from an auction house can take 45 days. I estimate the process could take 4 months from start to finish, but prepare for longer. Regardless of the length of time, you will be updated at each stage of the process. | |
The Consignment process | |
| The diagram at the top of this webpage is a simplified version. The following text will go into finer detail. | |
| 1 | When the 2 co-owners are notified that they have a matched pair, Project 2013B will give them several options of how they can proceed. One of those options is CONSIGNMENT, which is the process in which each banknote owner will ship their banknote to Project 2013B, and once the two banknotes are received, they will be both sent to be graded together as a matched pair, and, sent to auction to be sold. |
| 2 | Only when both owners have emailed Project 2013B that they BOTH choose the CONSIGNMENT option, the Project 2013B Administrator will send each of them a link to an online consignment agreement form to file out and electronically sign. |
| 3 | The owners are STRONGLY encouraged to read the agreement, ask questions (no matter how silly), and point out any errors (like the bill mentioned at the top of the form not matching their bill). After that, if the individual feels the risks and fees are acceptable, they will electronically sign and fill out the bottom of the form, and follow the instructions on how to send the form back to Project 2013B. Everything can be done online. |
| 4 | Only once BOTH owners have filled out and returned the consignment agreement, will the consignment go forward. |
| 5 | With both consignment agreements signed and returned to Project 2013B, each owner will be given the address of where to ship their bill. |
| Project 2013B recommends sending your banknote in a manner that requires a signature upon delivery. This will minimize things going wrong like misdirected mail, and will also give you a paper trail that your bill has been received. At any rate, Project 2013B will inform you when your bill arrives, as well as other status updates. | |
| 6 | Once both banknotes are in possession of Project 2013B, they will be carefully packed and shipped for grading, and eventually for auction once grading is completed. Naturally, any paperwork and communication with the grading company and the auction house will be done solely by the Project 2013B administrator. |
| 7 | Once the auction date is finalized, both co-owners will be notified. The Project 2013B administrator will also announce it on the website to help promote interest and potential bidders. |
| 8 | Once the proceeds from the auction are paid to the Project 2013B administrator and the various fees deducted (as outlined in the consignment agreement), the co-owners of the matched pair will be paid a 50-50 split of the remaining proceeds. |
| 9 | At this point the consignment is considered closed. |
A few points to remember | |
| 🔹 | To sell your banknote using eBay will cost you at least 13.25% in eBay fees, and that is assuming you don't add the minimum 2% to promote your listing on eBay. |
| 🔹 | Your full real name and address does not need to be disclosed to anyone other than Project 2013B who will keep it private. |
| 🔹 | Real names will never be made public, nor the amount involved in personal transactions. At most, the final hammer price of the auction might be mentioned on the website |
| 🔹 | Any attempts at fraud or trickery will result in the member's permanent ban from Project 2013B and any serial numbers submitted by the member will be removed from the database. |
| 🔹 | This consignment process has been designed to keep all three parties (the BUYER, the SELLER, and Project 2013B) safe. If everyone follows the steps described, things should go smoothly. |
| 🔹 | At each step of this process, both co-owners of the matched pair will be kept up to date by email. |
| Last update: December 7, 2023 | |
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